Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow a blend, but most require one method. We'll run your file both ways to see which qualifies you for more.

Question 2

How many months of bank statements do I need?

Accepted Answer

Most lenders want 24 months. A handful will approve with 12. Fewer months usually means a tighter income calculation.

Question 3

Do 1099 loans require tax returns at all?

Accepted Answer

Most 1099 loan programs skip tax returns entirely. Some lenders may still pull them for verification — it depends on the program.

Question 4

What credit score do these loans require?

Accepted Answer

Most non-QM lenders in this space want at least a 620. Stronger scores get better pricing on both loan types.

Question 5

Are these loans available for Irvine's higher price points?

Accepted Answer

Yes. Both programs are available as jumbo non-QM loans, which matters given Irvine's price range.

Question 6

Which loan closes faster in practice?

Accepted Answer

1099 loans often move quicker — fewer documents to review. Bank statement loans take longer due to deposit analysis.

1099 Loans vs Bank Statement Loans in Irvine